Forex
Dollar Hits Seven-Week Low as Hormuz Deal Hopes Lift Risk Appetite; Yen Locks In Intervention Gains
The US dollar tumbled to its weakest level in seven weeks as diplomatic progress toward a Strait of Hormuz agreement drained geopolitical risk premium from the greenback. Meanwhile, the Japanese yen is consolidating hard-won intervention gains as traders weigh whether the Bank of Japan's defense of the currency has staying power.